Many people feel uncomfortable in meeting strangers. But if you don't meet strangers, how will you build your network? As an entrepreneur, you need to overcome your social fears so that you can talk about your product/service and build relationships with potential buyers, distributors, customers, employees, etc.
In an article for Forbes magazine, Bob Goodyear, technical product manager for Symantec, confesses to being a wallflower and having trouble mingling. On a recent business trip, Goodyear vowed to overcome his fear. Before the event, Goodyear said that he "researched all the companies that would be represented...so that when I saw the company's names on the guest's name tags, I had a piece of information about their firm to use as a conversation starter." Another technique Goodyear uses is to put a time limit on how long he feels he has to mingle. "I tell myself, Bob, there's nothing you can't do for 30 minutes."
Dr. Mark Goulston, a psychologist, has used Goodyear's strategies and has built on them. Goulston sets a goal for himself at social events. For example, he promises "to meet three new people and have them be glad to have met me." Another technique Goulston uses is something he calls "FTD delivery." Get to know people by asking how they feel, what they think, or what they have done or would do given a certain topic. By starting the conversation directed at the other person, you take the focus off of yourself (and lower your stress level).
Ultimately, saying "Hi" is all about believing that you have something worth sharing with the other person, says John Baldoni, a corporate communications consultant in Ann Arbor, Mich. "You can't be afraid of sounding incompetent," he says. "You have to believe that you deserve to have the interaction, that your company depends on you and that you have something to offer the other person in the exchange."
networking article
As an entrepreneur, do you fear social situations? Do you want to become a better networker so that you can attract new customers, distributors, employees, etc? What tips do you have for other entrepreneurs who want to become better networkers?
Tuesday, May 26, 2009
Monday, May 11, 2009
Producing an e-newsletter (that will actually be read)
How many emails do you receive a day that you delete immediately? For me, I'd say a minimum of 50. With the loads of emails we all receive daily, how do you as an entrepreneur create an e-newsletter that doesn't go straight to the trash?
Carmine Gallo recently wrote an article for BusinessWeek about his interviews with Dave Robinson, VP of marketing for Mozy (an online computer backup service), and Janine Popick, chief executive of VerticalResponse (an email and direct marketing provider for small businesses). In his interviews, Gallo searched for advice on getting customers to read e-newsletters.
Robinson advised that you should only send an e-newsletter if you have something relevant to say. He said, "if it's not interesting to our customers, we're wasting their time." Popick also commented that entrepreneurs should share their expertise. A "how to" article or "five easy steps to (fill in the blank)" are great ways to engage customers, but remember, keep your articles short, sweet, and instructive.
When a customer signs up for an e-newsletter, they are making a request for updates about your business. Don't disappoint. Popick said, "be specific regarding the frequency of your newsletter and the value you will provide." Irrelevant information can easily become frustrating and force your customers to unsubscribe. The marketing staff at Mozy chose to limit their e-newsletters to once a month to prevent diluted content.
One of the best e-newsletter articles is to tell customer stories. Robinson said, "The last thing we want to do is tell a story with a bunch of boring copy and bullet points. The best best way to tell our story is through real people and their anecdotes....We want people to read our newsletters and look forward to them. If it's all about the company-- give us more money-- it turns people off."
Important points to remember when writing an e-newsletter
1. offer expert advice
2. stay true to customer expectations
3. use customers to tell stories
4. deliver great content and the money will follow
e-newsletter article
As an entrepreneur, do you send out e-newsletters? After reading this post, will you be modifying the content and/or frequency of your e-newsletters? What feedback (positive or negative) have you received about your e-newsletters thus far?
Carmine Gallo recently wrote an article for BusinessWeek about his interviews with Dave Robinson, VP of marketing for Mozy (an online computer backup service), and Janine Popick, chief executive of VerticalResponse (an email and direct marketing provider for small businesses). In his interviews, Gallo searched for advice on getting customers to read e-newsletters.
Robinson advised that you should only send an e-newsletter if you have something relevant to say. He said, "if it's not interesting to our customers, we're wasting their time." Popick also commented that entrepreneurs should share their expertise. A "how to" article or "five easy steps to (fill in the blank)" are great ways to engage customers, but remember, keep your articles short, sweet, and instructive.
When a customer signs up for an e-newsletter, they are making a request for updates about your business. Don't disappoint. Popick said, "be specific regarding the frequency of your newsletter and the value you will provide." Irrelevant information can easily become frustrating and force your customers to unsubscribe. The marketing staff at Mozy chose to limit their e-newsletters to once a month to prevent diluted content.
One of the best e-newsletter articles is to tell customer stories. Robinson said, "The last thing we want to do is tell a story with a bunch of boring copy and bullet points. The best best way to tell our story is through real people and their anecdotes....We want people to read our newsletters and look forward to them. If it's all about the company-- give us more money-- it turns people off."
Important points to remember when writing an e-newsletter
1. offer expert advice
2. stay true to customer expectations
3. use customers to tell stories
4. deliver great content and the money will follow
e-newsletter article
As an entrepreneur, do you send out e-newsletters? After reading this post, will you be modifying the content and/or frequency of your e-newsletters? What feedback (positive or negative) have you received about your e-newsletters thus far?
Monday, May 4, 2009
Educating customers through YouTube videos
YouTube is a video sharing website where users can upload, view, and share video clips. Have you ever used YouTube? Many people use YouTube for comedy and music, but can it be used as a tool for educating your consumers?
Lauren Luke is a cosmetics entrepreneur. She is a self-taught makeup artist who has used YouTube videos to educate consumers on makeup application. Her videos include experimenting with bright colors and recreating celebrity looks. Why are her videos successful? Luke is a "girl-next-door" type who offers easy to understand, step-by-step instructions for her customers who have no technical cosmetology experience. Since her first video post 18 months ago, Luke's videos have been viewed over 40 million times.
What does makeup have to do with agriculture? You may have a great product or service, but if your customer doesn't know how to use it or doesn't understand how it can benefit their lives, you won't be successful. Many women are intimidated by the amount of colors and brands of makeup available and don't know how to apply it or what to use. Luke's videos help women learn what makeup is best for their skin and how to use it.
Let's use a home-based jelly business as an example. Customers already know what jelly is and how to use it (spread for toast and crackers), but where else can it be used? You could post a video on creating a marinade with an orange marmalade or mixing a strawberry jelly with a cake mix to create a homemade strawberry cake. Another video idea would be to talk about the ingredients in your products like blueberries which are high in antioxidants and can help protect the body from free radicals. A customer can read a recipe card, but by watching a video, they can see how easily they can recreate your recipe or learn about health information. Also, a video allows your customer to see whom they are buying from--making the sale more personal.
Lauren Luke article
Have you used YouTube videos as a marketing technique? Have your videos helped you to strengthen your customer base?
Lauren Luke is a cosmetics entrepreneur. She is a self-taught makeup artist who has used YouTube videos to educate consumers on makeup application. Her videos include experimenting with bright colors and recreating celebrity looks. Why are her videos successful? Luke is a "girl-next-door" type who offers easy to understand, step-by-step instructions for her customers who have no technical cosmetology experience. Since her first video post 18 months ago, Luke's videos have been viewed over 40 million times.
What does makeup have to do with agriculture? You may have a great product or service, but if your customer doesn't know how to use it or doesn't understand how it can benefit their lives, you won't be successful. Many women are intimidated by the amount of colors and brands of makeup available and don't know how to apply it or what to use. Luke's videos help women learn what makeup is best for their skin and how to use it.
Let's use a home-based jelly business as an example. Customers already know what jelly is and how to use it (spread for toast and crackers), but where else can it be used? You could post a video on creating a marinade with an orange marmalade or mixing a strawberry jelly with a cake mix to create a homemade strawberry cake. Another video idea would be to talk about the ingredients in your products like blueberries which are high in antioxidants and can help protect the body from free radicals. A customer can read a recipe card, but by watching a video, they can see how easily they can recreate your recipe or learn about health information. Also, a video allows your customer to see whom they are buying from--making the sale more personal.
Lauren Luke article
Have you used YouTube videos as a marketing technique? Have your videos helped you to strengthen your customer base?
Tuesday, April 28, 2009
Friday, April 24, 2009
Marketing to seniors
Entrepreneur.com recently interviewed Maria Henke, Assistant Dean of Gerontology at USC. Opportunities are growing in the senior market and Henke has advice for business owners.
"When targeting older persons it's especially important to consider the functionality and safety of the product...you may also have to consider providing support services such as assistance using a new technology or device. Think 'universal design'. Not only will entrepreneurs make and sell better products in the senior market; they will also be more successful to a broader range of consumers." Henke also suggests that entrepreneurs looking to target seniors should segment a particular group. "This is not one big homogenous group that ranges in age from 55 to 95," states Henke. A healthy, active, employed senior will have much different needs than a retiree in poor health. Your targeted segments will affect how you distribute your product and your selling price.
One of the major mistakes businesses make in marketing to seniors is assuming that seniors are incapable of using technology. Henke reports that, "Older adults are the fastest-growing group of internet users. According to the U.S. Census Bureau, people over the age of 65 spend more than $7 billion per year online. Another mistake people make is to assume that people's consumption habits don't change over time. If older Americans are as brand loyal as they're made out to be, then the American auto industry certainly would not be in such dire straits."
Before moving into the senior market (or any new market), an entrepreneur must do their research. Henke has developed a list of 5 questions to answer before moving into the senior market.
1. What need is to be met with the introduction of the product?
2. How will those needs change over the life of the product?
3. How significant are functionality issues related to familiarity with technology/physical ability, etc.?
4. What language is appropriate and what messages resonate with this target audience?
5. How might the target audience define themselves (e.g., do they think they are "older women" or do they define themselves as "boomers" or "seniors")? How congruent are your views of this audience vs. how they self-identify?
senior marketing article
As a business owner, do you currently market to seniors or are you looking to move into the senior market? In your research, how does marketing to seniors differ from other segments? Do you think the senior market is an under-served market and has many opportunities?
"When targeting older persons it's especially important to consider the functionality and safety of the product...you may also have to consider providing support services such as assistance using a new technology or device. Think 'universal design'. Not only will entrepreneurs make and sell better products in the senior market; they will also be more successful to a broader range of consumers." Henke also suggests that entrepreneurs looking to target seniors should segment a particular group. "This is not one big homogenous group that ranges in age from 55 to 95," states Henke. A healthy, active, employed senior will have much different needs than a retiree in poor health. Your targeted segments will affect how you distribute your product and your selling price.
One of the major mistakes businesses make in marketing to seniors is assuming that seniors are incapable of using technology. Henke reports that, "Older adults are the fastest-growing group of internet users. According to the U.S. Census Bureau, people over the age of 65 spend more than $7 billion per year online. Another mistake people make is to assume that people's consumption habits don't change over time. If older Americans are as brand loyal as they're made out to be, then the American auto industry certainly would not be in such dire straits."
Before moving into the senior market (or any new market), an entrepreneur must do their research. Henke has developed a list of 5 questions to answer before moving into the senior market.
1. What need is to be met with the introduction of the product?
2. How will those needs change over the life of the product?
3. How significant are functionality issues related to familiarity with technology/physical ability, etc.?
4. What language is appropriate and what messages resonate with this target audience?
5. How might the target audience define themselves (e.g., do they think they are "older women" or do they define themselves as "boomers" or "seniors")? How congruent are your views of this audience vs. how they self-identify?
senior marketing article
As a business owner, do you currently market to seniors or are you looking to move into the senior market? In your research, how does marketing to seniors differ from other segments? Do you think the senior market is an under-served market and has many opportunities?
Thursday, April 16, 2009
Vague food labels leave parents frustrated about food allergens
Being diagnosed with a food allergy not only affects the life of that individual, but it also affects the way their family eats, shops, and lives. According to the Centers of Disease Control and Prevention, 3.9% of children (approximately 3 million) in the US have a food allergy and reports are on the rise. From 1997 to 2007, reports of food allergies in children under 18 have risen 18%.
The most severe and life-threatening allergen is peanuts. According to Dr. Evan Matheson, an allergist, peanut allergies were uncommon when he started his practice in 1982. Recently, Dr. Matheson says, "I saw seven in a week."
What does this mean for food producers and supermarkets?
A federal law was passed in 2006 instituting labeling for products that contain common allergens. Unfortunately, there is still confusion. Manufacturers are placing vague warnings like "may contain" or "manufactured in a facility that processes" allergens. These labels leave consumers confused and frustrated.
For Michelle Fogg, mother of a daughter with allergies to peanuts, tree nuts, eggs, milk, soy, and mustard, her first shopping trip after her daughter's diagnosis was traumatic. She said, "I left the store crying because everything has a warning on it."
Some parents feel that the "may contain" label is too broad. Scott Mandell, founder and CEO of Enjoy Life Foods, believes that labels need to be standardized. Mandell has turned parents' frustration with vague labels into a business. Enjoy Life Foods produces allergen-free cookies, granola, and other snacks. "When you read a lot of ingredient labels in the market, there are certain ingredients being used where you need a degree in chemistry to really know what this is--and what allergens might this product have in it. You read our ingredient labels, you understand what our ingredients are," says Mandell.
food allergies article
As an ag business owner, do you have allergen warnings on your food products? Would you like to see these labels standardized? Is the increase in children with food allergies a business opportunity for you? Would you consider making "allergen-free" products?
The most severe and life-threatening allergen is peanuts. According to Dr. Evan Matheson, an allergist, peanut allergies were uncommon when he started his practice in 1982. Recently, Dr. Matheson says, "I saw seven in a week."
What does this mean for food producers and supermarkets?
A federal law was passed in 2006 instituting labeling for products that contain common allergens. Unfortunately, there is still confusion. Manufacturers are placing vague warnings like "may contain" or "manufactured in a facility that processes" allergens. These labels leave consumers confused and frustrated.
For Michelle Fogg, mother of a daughter with allergies to peanuts, tree nuts, eggs, milk, soy, and mustard, her first shopping trip after her daughter's diagnosis was traumatic. She said, "I left the store crying because everything has a warning on it."
Some parents feel that the "may contain" label is too broad. Scott Mandell, founder and CEO of Enjoy Life Foods, believes that labels need to be standardized. Mandell has turned parents' frustration with vague labels into a business. Enjoy Life Foods produces allergen-free cookies, granola, and other snacks. "When you read a lot of ingredient labels in the market, there are certain ingredients being used where you need a degree in chemistry to really know what this is--and what allergens might this product have in it. You read our ingredient labels, you understand what our ingredients are," says Mandell.
food allergies article
As an ag business owner, do you have allergen warnings on your food products? Would you like to see these labels standardized? Is the increase in children with food allergies a business opportunity for you? Would you consider making "allergen-free" products?
Thursday, April 2, 2009
Candy sales up in a down economy
In hard economic times, it seems consumers are cutting back on spending, and businesses are hurting. So how does that explain increasing candy sales?
“It seems that people will treat themselves to something small like a little bit of candy,” says Margaret Allender, owner of the Nashville Candy Store. She has seen a 20% increase in sales this year.
Amanda Weiss, owner of Mandy’s Candy in Ellettsville, IN, says that customers “need those pick-me-ups during these times.” Her sales have increased 30% this year and has seen a flood of new customers.
When people are faced with tough economic times, indulgences seem to be cut from expenses, but they are still looking for relaxation/stress relievers. So instead of that spa treatment or trip to the mall, a few pieces of candy seems to be a cheap indulgence over pricier things.
As a consumer, do you feel that you have been forced to cut spending in this economy? Have you chosen to replace indulgences with cheaper substitutions (like candy)? As a business owner, how have your sales been affected? Do you sell any “cheap indulgences” and have seen an increase in sales in these items?
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